According to figures released by the Federal Reserve, credit debt increased in May, a sign that consumer confidence and credit card spending may continue to rise. In May, overall American credit soared to $19.6 billion, a huge leap from April’s $10.9 billion.

The 8.3 percent gain in credit debt was the most significant since a 9 percent monthly increase in May 2012. Perhaps most importantly, the national amount of revolving credit is building. Revolving credit – namely acquired through credit card use – has been slow to make gains since the recession. In May, though, revolving credit rose to $856.5 billion, up from $849.9 billion in April, a 9.3 percent annualized increase.

After years of slow growth in credit spending, May’s improvements have given a new sense of optimism to both economists and consumers alike. Consumers are becoming less afraid to run up balances on credit cards, probably due to increased job security – May also saw a revised 195,000 new jobs added to the economy, which is likely a contributor to higher credit spending.

The Conference Board’s Consumer Confidence Index is on the rise, too. The index reported consumer confidence reached 81.4 in June, up from 73.4 in May, pointing to more widespread shopping and a willingness to take on debt.

With such a large increase in credit card spending in combination with improving confidence levels, many small businesses may be hoping to expand. As the market improves and more Americans feel secure in their jobs, spending will likely continue to increase.

If a small business owner wants to tap into the credit market, they can come to National Funding for their business credit card processing needs. National Funding can provide guidance to individuals on getting a small business loan and can give a small business owner an extra financial boost.